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Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5742  
Subject: Re: This doesn't make sense to me Date: 6/15/2012 11:51 AM
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My Dad is planning on selling his house, and his girlfriend selling her house. they plan on buying a condo together. they are also planning on putting extra money from the sale of the two houses in an account so if one of them dies the other has a account to use to continue to pay for the taxes maint. fee etc. He said when they both die the condo will be left to her daughter and myself. What doesn't make sense is that if my father dies I have to wait for a stranger to me (his girlfriend) to die before I receive what is my inheritance. This also stands the other way around too if the girlfriend dies the daughter has to sit and wait for my father to die before she gets her mothers share of the condo.

There has got be a more text book resolution to this situation isn't there?

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Sure - and it sounds like they've found a good one, that reflects their intentions.

It sounds like they're using a trust to be funded by the sale of their existing homes, to buy the replacement home, with the excess funds to be kept in trust for the maintenance of the home, and available for the support of the survivor. There's nothing mysterious or unfair about this; they're doing this for their mutual benefit, and want to make sure that the funds they committed to it will benefit both of them for their lifetimes.

Bill
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